Interest on amounts to be reimbursed.

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50-7-16. Interest on amounts to be reimbursed.

The commission shall charge a governmental agency simple interest at the Category A rate of interest established in §54-3-16 on the amount of money subject to reimbursement under §50-7-15 from the date of the expenditure to the date of payment.

Source: SL 1966, ch 4; SL 1992, ch 60, §2; SL 1997, ch 16, §16; SL 1997, ch 269, §1; SL 2014, ch 222, §55.


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